White House delays key component of healthcare overhaul

Administration officials will grant medium and large companies another year to comply with coverage requirements

By Associated Press
Published July 2, 2013 10:33PM (EDT)
             (AP/Evan Vucci)
(AP/Evan Vucci)

WASHINGTON (AP) — The Obama administration says it's delaying a major part of the president's health care overhaul law, the requirement that medium and large companies offer coverage.

In an announcement late Tuesday from the Treasury Department, the administration said it has heard requests from business groups for additional time to comply and will grant another year.

The health law requires companies with 50 or more workers to offer affordable coverage to their employees or face potentially large fines if just one worker ends up getting taxpayer-subsidized insurance.

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